The aim of the paper is to present selected elements of the academic output of Angus Deaton, recipient of the 2015 Nobel Memorial Prize in Economic Sciences, which he was awarded for his "analysis of consumption, poverty, and welfare." Deaton's comprehensive studies into this subject, involving data on over 140 countries, have led to many findings relevant both to economic theory and practice, and disputing some arguments advanced by mainstream economists. Indeed, the Deaton paradox calls into question Friedman's permanent income hypothesis. Thus, Deaton's studies may be useful in solving problems related to poverty and income inequality.(original abstract)

Deaton A. (2013b), Reshaping the world: The 2005 round of the International Comparison Program, w: Measuring the Size of the World Economy: The Framework, Methodology, and Results from the International Comparison Program, World Bank, Washington, DC.